Covestro AG Sponsored ADR (OTCMKTS:COVTY) Short Interest Up 2,014.3% in August

Key Points

• Covestro AG saw a dramatic increase in short interest of 2,014.3% in August, bringing the total to 14,800 shares as of August 31st.
• Despite the increase in short interest, Covestro's stock price increased by 1.3%, reaching $34.27 during trading on Thursday.
• The company reported a quarterly loss with an EPS of ($0.18) and currently has analysts projecting a modest earnings of $0.03 EPS for the current year.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 14,800 shares, an increase of 2,014.3% from the August 15th total of 700 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 12,200 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 12,200 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.0% of the company's stock are sold short.

Covestro Stock Up 1.3%

Shares of COVTY stock traded up $0.44 during trading on Thursday, reaching $34.27. The company's stock had a trading volume of 9,612 shares, compared to its average volume of 5,908. The business has a fifty day moving average price of $34.92 and a 200-day moving average price of $33.65. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 0.30. The company has a market cap of $12.95 billion, a price-to-earnings ratio of -31.73 and a beta of 0.97. Covestro has a one year low of $28.48 and a one year high of $35.97.

Covestro (OTCMKTS:COVTY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) EPS for the quarter. Covestro had a negative return on equity of 5.68% and a negative net margin of 2.68%. Analysts anticipate that Covestro will post 0.03 earnings per share for the current year.

About Covestro

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.

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